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Mar 26, 2013
03/13
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people are feeling a lot of uncertainty about this economy. and while they look at the stock market, they scratch their head going, gosh, that's great, but i can't make a trade and trade out of it quickly. this, a real estate transaction, is the longest term, longest term investment anyone can make. and people are wisely thinking about it and looking at all the economic data points that you guys cover so well, each week, each day, each minute. and they're going, you know what, good indication that property values are going up. but i don't see a reason to race out there and put myself at risk again. and that's those that have good credit. those that don't have good credit, don't even have that as an option. >> and steve, the jobs market has to be a big correlation of this as well? >> absolutely. that's something that disqualifies certain people, especially, by the way, if they just recently got a job. they would not qualify for, say, a refinancing or additional credit. i also think, guys, neither of these two gentleman mentioned education. i th
people are feeling a lot of uncertainty about this economy. and while they look at the stock market, they scratch their head going, gosh, that's great, but i can't make a trade and trade out of it quickly. this, a real estate transaction, is the longest term, longest term investment anyone can make. and people are wisely thinking about it and looking at all the economic data points that you guys cover so well, each week, each day, each minute. and they're going, you know what, good indication...
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Mar 22, 2013
03/13
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. >> in terms of longer term, do you think this economy improves second half or do you think it slows down? >> i think, as a matter of fact, we're probably in the second quarter. you'll start seeing slow growth. but i think as this summer winds, you know, goes through, we'll start seeing some growth again. i do think that by the end of the year, we're going to be not a lot higher, but i think we'll be at all-time highs as the year goes on. probably the the end of the summer, the third quarter going into the fourth quarter. i'm positive. >> so bill, because the s&p capital iq estimates call for 0.6% growth the first quarter and then it goes up to 7%. so they're expecting profits to actually reaccelerate second half. >> lee munson, you're the only outside guest buying stocks here. what are you buying here? >> you know, i'm just focusing where i need to get some more exposure. i'm focusing first on emerging markets. they've lagged year-to-date. i think they can outperform by december 31st. i like the emerging markets to add more money today. i would also say, add more money to the s&p 50
. >> in terms of longer term, do you think this economy improves second half or do you think it slows down? >> i think, as a matter of fact, we're probably in the second quarter. you'll start seeing slow growth. but i think as this summer winds, you know, goes through, we'll start seeing some growth again. i do think that by the end of the year, we're going to be not a lot higher, but i think we'll be at all-time highs as the year goes on. probably the the end of the summer, the...
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Mar 18, 2013
03/13
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> take a look at futures. the dow looks like it would open off about 103 points. fass dak would be off about 32 points and the s&p 500 off about 16 points. making headlines this morning, beyond cyprus, airbus is landing a record order of jets from indonesia's lion air. the deal is for $24 billion for 234 planes. also today, president obama is going to be nominating thomas perez to head the labor department. >> we wondered. >> an airplane guy. >> if we were going to pull back, we wondered where it was going to come from. but this doesn't change that we're still -- the dollar has been thrown away, the best house in the neighborhood, things here are still going better. so the question is, does europe still have the -- >>
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> take a look at futures. the dow looks like it would open off about 103 points. fass dak would be off about 32 points and the s&p 500 off...
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Mar 20, 2013
03/13
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the economy is improving. we get to the next problem with is building up the balance sheet in a way that will make it hard to tighten when they need to tighten. >> the fact is you're siding with santelli over me but in a more polite way. one of the keys to what you're saying and i have a counter to this, maybe let you say it which is that you think the issue of taking money away from savers by lowering interest rates is something that hurts the economy and consumer spending more than lower interest rates create spending and helps the economy. >> yes. because first of all if you look at consumer interest income and consumer interest expense, consumers actually have more interest bearing assets an they do interest bearing liabilities. the key is liabilities are fixed rate at this stage or most are because of fixed rate mortgages. if you allow interest rates to go up, you push more none inmon the consumer sector than your cost to consumer sector and older americans live off cds and if you push up the income more,
the economy is improving. we get to the next problem with is building up the balance sheet in a way that will make it hard to tighten when they need to tighten. >> the fact is you're siding with santelli over me but in a more polite way. one of the keys to what you're saying and i have a counter to this, maybe let you say it which is that you think the issue of taking money away from savers by lowering interest rates is something that hurts the economy and consumer spending more than...
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Mar 20, 2013
03/13
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>> i think the economy's getting better. i think the job market is getting better and the housing market is getting better, but i don't think the fed sees it that way. i think the fed sees the employment to population ratio. you have virtually no recovery in the last three or four years. you look at labor force participation and that's down. so they're very, very comfortable, i think in maintaining this easy policy because they think that's what's needed to keep this recovery going, and i think they're going to be comfortable because core inflation is 1.5% year on year. >> i think there's a possibility of more dovish. we're not sure that the data is sound. maybe there will be giveback in the spring and if he starts mentioning the sequester and the need to hang in there with full force, that, ironically, could be very positive for this market. >> absolutely. i think his statements today, the press conference will be very dovish. he can point to downside risks and lump cyprus into that scenario and maintain this easy stance. t
>> i think the economy's getting better. i think the job market is getting better and the housing market is getting better, but i don't think the fed sees it that way. i think the fed sees the employment to population ratio. you have virtually no recovery in the last three or four years. you look at labor force participation and that's down. so they're very, very comfortable, i think in maintaining this easy policy because they think that's what's needed to keep this recovery going, and i...
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Mar 22, 2013
03/13
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the economy is going better. the boom in collectibles goes far beyond art and cars and things we talk about usually. comic books selling typically for $1 million or more for the prized batman and spider man. so this reaches way beyond the usual categories. >> it's anything of limited supply that you cannot go back. why is it called a jumbo? >> i i think because it's in perfect condition front and back, graded five or higher. there are only three of these. it's unclear what it will sell for. the last one sold during the heat of the fm crisis. again in the seven figures. this one is already up to 1.4. bidders have a chance to bid on this thing. it will probably gost past $3 million. zl come back and let us know how it goes. >> i will, i will. >> scott, thank you very much. >> it's been a pleasure. it's been real fun. >> thank you very much. we'll see you at the halftime report. if you're just tuning in good morning. this is what you've missed so far. >> welcome to hour three of "squawk on the street." here's what's
the economy is going better. the boom in collectibles goes far beyond art and cars and things we talk about usually. comic books selling typically for $1 million or more for the prized batman and spider man. so this reaches way beyond the usual categories. >> it's anything of limited supply that you cannot go back. why is it called a jumbo? >> i i think because it's in perfect condition front and back, graded five or higher. there are only three of these. it's unclear what it will...
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Mar 26, 2013
03/13
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. gerri: obamacare. the bottom line of small businesses across the country. one bakery owner shares her concerns next. gerri: a new report warning obamacare will drive medical claims costs of 32%. the nation's leading group of financial risk analysts, the society of actuaries has a medical claim cost are about to skyrocket for individual policies under obamacare. these plans are the biggest driver of insurance premiums. some states will see claims costs go down, but the majority are going to see double-digit increases. they are the latest group to one of these increases. more broken promises. the cost will go up and not down. and small businesses are facing huge consequences from obamacare. a san diego bakery is sounding
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. gerri: obamacare. the bottom line of small businesses across the country. one bakery owner shares her concerns next. gerri: a new report warning obamacare...
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Mar 26, 2013
03/13
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the economy in cyprus, is going to continueo drop. 10 to 20% is likely. this is a country thatas glowerrishing before -- fluorishing before i joined eurozone, but now cyprus is taking a hair cut forreece, and greece for cyprus, and the troika is coming in to help. you cannot just jump out at this time. yet there is no room for nail failure, they are not printing more money, they will severe draconian measured. severe austerity, one country at a time, in the meantime people are weeping, imagine everything you have known to b true, is not true any more. neil: if you think about it, ty. you are a big investor, and world renounce, a lot of folks in europe, their bank acount is everything, their savings are there their vestments are in glorifies pass book savings account, that is it. so a trust has been broken to say nothing of the trust in european club, to keep it going. i think when you let people down, when you scare them, when you break a trust of confidence it is really katie bar the door, isn't it? >> i don't think there is any question about that when
the economy in cyprus, is going to continueo drop. 10 to 20% is likely. this is a country thatas glowerrishing before -- fluorishing before i joined eurozone, but now cyprus is taking a hair cut forreece, and greece for cyprus, and the troika is coming in to help. you cannot just jump out at this time. yet there is no room for nail failure, they are not printing more money, they will severe draconian measured. severe austerity, one country at a time, in the meantime people are weeping, imagine...
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Mar 19, 2013
03/13
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i don't see an economy that's a world economy that is growing. it could generate easily 5% to 6% earnings growth given what we've cut to the bone in corporations. >> the economy has nothing to do with it stipes. we still aren't doing efficiencies put in place. earnings were supposed to stop growing and they have not stopped growing and we're still surprised on bounce and there's still an upward slope on forward earnings expectations and my guess is it will be more right in the multiple. >> because of europe, i think multiples are ephemeral things. they sort of come and go and it's what we think at any given time. earnings are earnings >> in terms of the sectors that will lead us to 2000. by the way, i'm curious, how often do you make projects that go so far and how often are they close to reality? >> i changed them by the time we get there. >> oh, good man. to be honest it's not that far. it's the end of next year and it's not a seven-year projection and we are pushing it to get there. it's a symbolic thing and we're trying to show that the marke
i don't see an economy that's a world economy that is growing. it could generate easily 5% to 6% earnings growth given what we've cut to the bone in corporations. >> the economy has nothing to do with it stipes. we still aren't doing efficiencies put in place. earnings were supposed to stop growing and they have not stopped growing and we're still surprised on bounce and there's still an upward slope on forward earnings expectations and my guess is it will be more right in the multiple....
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Mar 25, 2013
03/13
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eats leaving it with almost no viable economy, certainly not to support the size of the economy it will grown to support. the trouble for cyprus being that they're going to have to take that pain and now the years ahead are going to be extremely difficult. we don't even know when banks are going to reopen. last night after those long negotiations when the cyprus manager left, julia stopped and asked him when people are going to be able to get their hands on their money. here is what he had to say. >> bearing that in mind, are the banks going to open on tuesday morning? >> i cannot say that. i cannot say that. it's always a mistake to say something like this when you are not completely sure. there is a lot 06 work to be done, but they will open very soon. >> and how long do you intend to use the capital controls for? >> that also i cannot answer. but, again, our objective to keep them as limited and is as short as possible. >> even so, guys, the question isn't so much a failure of cypr cyprus, it's the future of the european union and the eurozone in particular. and leaders last night fe
eats leaving it with almost no viable economy, certainly not to support the size of the economy it will grown to support. the trouble for cyprus being that they're going to have to take that pain and now the years ahead are going to be extremely difficult. we don't even know when banks are going to reopen. last night after those long negotiations when the cyprus manager left, julia stopped and asked him when people are going to be able to get their hands on their money. here is what he had to...
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Mar 24, 2013
03/13
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i can't imagine why peter would want to live in this economy. my, god, why not go off and live over the, you know, put his residence on top of that offshore bank and make sure he manages it well, have a good time. this is an absurdity of the this is -- if anything, right now, the united states, we have a market for which there is a premium for security, and for responsibility, and as -- as we listen to all of these sort of, what i call the neocons of economics, nonsense, the reality is that we're getting better, we're getting stronger. we are solidifying progress, and cypress will be a -- won't even be a footnote a month from now. the european union is asserting leadership and it is coming to its senses about how to build a better future for what's been a very difficult, i mean, think of the complexity of what they are managing there compared to what we are doing. shibani: absolutely. you can't compare them. there's strength in the dollar, the markets are near all-time highs, and recovery, and there's pockets of the economy. way we still see, yo
i can't imagine why peter would want to live in this economy. my, god, why not go off and live over the, you know, put his residence on top of that offshore bank and make sure he manages it well, have a good time. this is an absurdity of the this is -- if anything, right now, the united states, we have a market for which there is a premium for security, and for responsibility, and as -- as we listen to all of these sort of, what i call the neocons of economics, nonsense, the reality is that...
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Mar 25, 2013
03/13
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is it going force the economy into recession? >> oh, deep. deep recession. there are predictions of a decline of more than 10%. it makes up 50% of this economy. it's going to be catastrophic, absolu absolutely. as we saw, the comments about a template are really throwing it in the works, but we seem to be coming back a little bit now. how are the markets realing this? >> it matters whether it is or isn't. i appreciate the attempts to finesse this. then when we got the clarification from his office, which is really him. is it his aide or him? the markets came up. and no models or templates are used. you can see how confused the markets are on this. you can see u.s. financial stocks. but more importantly we also came off the lows in european stocks. these are italian stocks to trade here. ewi is the symbol here. same thing coming right off of the lows. >> bob, thank you so much for that. let's bring in the president of mercadian asset management. let's just move away from cyprus for two seconds. we really need some good news at this point. more than momentum.
is it going force the economy into recession? >> oh, deep. deep recession. there are predictions of a decline of more than 10%. it makes up 50% of this economy. it's going to be catastrophic, absolu absolutely. as we saw, the comments about a template are really throwing it in the works, but we seem to be coming back a little bit now. how are the markets realing this? >> it matters whether it is or isn't. i appreciate the attempts to finesse this. then when we got the clarification...
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Mar 21, 2013
03/13
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economy's improving. but we still have fundamental issues in the structure of our economy, imbalances. we are not out of the woods yet. we're not in self-sustaining recovery. we need to start to see that to become increasingly more bullish on the financial markets. >> that was really good. you're a good double act. we should have you on more. thank you both. brian and chad. have great days. >>> seven years ago today twitter co-founder jack dorsey sent the first tweet writing just setting up my twitter. since then the media giant has become a staple for millions. it has transformed the way people communicate so what could twitter do in the next seven years? tweet us @squawkstreet. >>> the market is accelerating downward, now down 67 points. let's get a "market flash" from josh back at hq. >> juniper networks is under pressure this morning. analysts at fbr not fans saying we are the end of an era as routers and switches are set to decline. fbr downgrades juniper and cisco toeon perform. the company's fbr sa
economy's improving. but we still have fundamental issues in the structure of our economy, imbalances. we are not out of the woods yet. we're not in self-sustaining recovery. we need to start to see that to become increasingly more bullish on the financial markets. >> that was really good. you're a good double act. we should have you on more. thank you both. brian and chad. have great days. >>> seven years ago today twitter co-founder jack dorsey sent the first tweet writing just...
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Mar 26, 2013
03/13
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. twe price. invest with confidence. request a prospectus summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >> announcer: you never know when, but thieves can steal your identity and turn your life upside down. >> hi. >> hi. you know, i can save you 15% today if you open up a charge card account with us. >> you just read my mind. >> announcer: just one little piece of information and they can open bogus accounts, stealing your credit, your money and ruining your reputation. that's why you need lifelock to relentlessly protect what matters most... [beeping...] helping stop crooks before your identity is attacked. and now you can have the most comprehensive identity theft protection available today... lifelock ultimate. so for protection you just can't get anywhere else, get lifelock ultimate. >> i didn't know howerious identity theft
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. twe price. invest with confidence. request a prospectus summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >> announcer: you never know when, but thieves can steal your identity and turn your life upside down. >> hi. >> hi. you know, i can save you 15%...
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Mar 22, 2013
03/13
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we're in the obama economy. a college student doesn't need to study capitalism, moves into his parents house, lives there until he's 30. is on their health care plan. where do you find a professor to teach the joys of capitalism. >> there has to be somebody out there. >> they are there but they are a vanishing minority. >> capitalism is freedom. i appeal to your higher spirits. there must be an agreement with us some place. capitalism is about freedom. live, liberty and pursuit of happiness is done best through the free market capitalist system. >> i agree with you, larry. i don't know what stanford is doing. obviously they can do what they want because they are a private university and we have freedom of speech but i certainly would encourage the teaching of capitalism on campus. but i think you're all on a different planet. liberals are very supportive of capitalism. and this notion that somehow that the whole country has become anti-capitalist is not true. >> dave horowitz the congress man believes liberals a
we're in the obama economy. a college student doesn't need to study capitalism, moves into his parents house, lives there until he's 30. is on their health care plan. where do you find a professor to teach the joys of capitalism. >> there has to be somebody out there. >> they are there but they are a vanishing minority. >> capitalism is freedom. i appeal to your higher spirits. there must be an agreement with us some place. capitalism is about freedom. live, liberty and...
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Mar 18, 2013
03/13
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eight times the side of the economy. if you look at the size of the bailout needed it is unprecedented. eig italy and spain don't even come close to the bank bailout. we used to think spain might need a bailout of 10% of gdp for its banks. can you imagine, that's huge. in cyprus is we're talking 60% of gdp so it's outsized. >> michelle caruso-cabrera, thanks so much for that. 60% of it relies on its banking system and 30% of its deposits are from non-uri on countries. >> it is roughly two-thirds of exxon mobil's capital spending. >> there are people who have missed this move, people who missed it for 6,000 point, 3,000 points and they will point out that is irrelevant, the size of the gdp and this is the next big thing and people will tell you you ought to take your money out of j.p. morgan chase. these are people who have a terrific motive. they have got to catch up with the averages. at the same time, stocks are pretty extended so it's a great excuse. i was going use the fed as a great excuse, but now we have cyprus. i
eight times the side of the economy. if you look at the size of the bailout needed it is unprecedented. eig italy and spain don't even come close to the bank bailout. we used to think spain might need a bailout of 10% of gdp for its banks. can you imagine, that's huge. in cyprus is we're talking 60% of gdp so it's outsized. >> michelle caruso-cabrera, thanks so much for that. 60% of it relies on its banking system and 30% of its deposits are from non-uri on countries. >> it is...
53
53
Mar 19, 2013
03/13
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. gerri: are you bored of your apps? details in two minutes. gerri: all right, in case you missed it, all last week thousands of bands, record labels, startups and music fans converge in austin, texas, the annual south by southwest festival in our next guest says a slew of shiny new apps came out to help you to be on the cutting edge. if you want to be on the cutting edge. joining me now with some of the coolest apps out there. they have this whole tech part which is very popular. what were the trends that came out this year? >> south by southwest interactive, 3d printing, a lot of apps to help you take a monday in parts of your life and make them more interesting which is a lot of what the apps were doing. things like tex
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. gerri: are you bored of your apps? details in two minutes. gerri: all right, in case you missed it, all last week thousands of bands, record labels, startups...
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Mar 26, 2013
03/13
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and joining us next on the economy is scott rasmussen. and i want to look at the polls you've taken. the first one 28% say now is a good time to sell your house. could that be they're being smarter? are people feeling better about it? >> first of all, there are some neighborhoods in some areas of the country where it's a better time to sell than others, but these numbers much more optimistic than they've been in a long time. up 6 points from a month ago and 30% expect the home to go up in the next year. let me show you the best sign. only 2% of home owners are very likely to miss a mortgage payment in the coming six months. down from 6% in 2010, so the defaults are headed down. charles: obviously, a lot of people have already been wiped out, too. >> yes. charles: the second poll and sort of dove-tails from what you're saying, and some say the youth economy is getting better and is that an improving number? >> sure, only 39% say it's getting worse. a couple of years ago, that number was above 70%, so, we're in this world where the economy
and joining us next on the economy is scott rasmussen. and i want to look at the polls you've taken. the first one 28% say now is a good time to sell your house. could that be they're being smarter? are people feeling better about it? >> first of all, there are some neighborhoods in some areas of the country where it's a better time to sell than others, but these numbers much more optimistic than they've been in a long time. up 6 points from a month ago and 30% expect the home to go up in...
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Mar 23, 2013
03/13
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no attempt to spur growth in the economy. and we're spending our time focusing on these issues which have very real impacts for many people around the country. but if we were to focus on job security, economic growth, many of the social issues would take care of themselves. >> it is an economic issue for women and families. >> i'm scared it's going to remain a dominant issue because of other issues that have fallen to the wayside. immigration in 2010 was the the celeb for the tea party, for the right wing. everybody is on board. we're battling out the details. we're looking at gay marriage. we're seeing a trend of acceptance for gay marriage. >> here's what i don't understand. the republican party is about individual responsibility, smaller government, letting the person figure out for their own idea what they should do. millions of people are living paycheck to paycheck. we have an economy that is still at 8.9% unemployment rate. why are we talking about? ? we had this and the american people said talk to the hand. i want yo
no attempt to spur growth in the economy. and we're spending our time focusing on these issues which have very real impacts for many people around the country. but if we were to focus on job security, economic growth, many of the social issues would take care of themselves. >> it is an economic issue for women and families. >> i'm scared it's going to remain a dominant issue because of other issues that have fallen to the wayside. immigration in 2010 was the the celeb for the tea...
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Mar 20, 2013
03/13
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they are forecasting the entire economy. when you look at those dates, those are the ones with the more optimistic outlooks. you have the fiscal uncertainties. the fed cannot take that into account in their forecasts. they forecast the economy as it is, not what may happen from the fiscal side. cheryl: the sequester will be one of the things that can change their gdp projections. i assume that would be to the downside. unemployment, that is also key to market participants. is 6.5% unemployment -- if that threshold comes sooner rather than later, that will be a market negative, i assume. >> i would assume that as well. the labor force participation rate is at a 30 year low. we will get it down to 6.5% by giving more people to drop out of the labor market. if you look at consumer confidence as measured by the university of michigan, that have plummeted this year. do not forget, guys, the way that that helps out this u.s. government is keeping the rates low. cheryl: what about the homebuilders, scott? homebuilding has been a bi
they are forecasting the entire economy. when you look at those dates, those are the ones with the more optimistic outlooks. you have the fiscal uncertainties. the fed cannot take that into account in their forecasts. they forecast the economy as it is, not what may happen from the fiscal side. cheryl: the sequester will be one of the things that can change their gdp projections. i assume that would be to the downside. unemployment, that is also key to market participants. is 6.5% unemployment...
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Mar 26, 2013
03/13
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what is for sure, tyler, is the economy here will contract significantly. anywhere between 10% and 30%. they'll contract the financial sector, which is up until now, 50% of the economy. that's why all those people are protesting. they know what's coming. it's going to be painful. >> michelle caruso-cabrera, thank you very much. sue, down to you. >> ty, goldman sachs, one of the big stocks to watch today. let's look at the stock. it's up about 15% so far this year. the investment bank will have a new top ten shareholder soon, with the stock down just a fraction today of a percent at 14585. that new shareholder in a big ware, warren buffett. our mary thompson is here with more. >> buffett's future ranks among shareholders is borne from a crisis era deal that help to shore up goldman in 2008. where he ultimately lands in the ranks will depending on the share price. the two sides amending the original agreement, saving buffett to shem out money he would have -- and saving goldman from diluting its existing shareholders. here is how it works. in exchange for the
what is for sure, tyler, is the economy here will contract significantly. anywhere between 10% and 30%. they'll contract the financial sector, which is up until now, 50% of the economy. that's why all those people are protesting. they know what's coming. it's going to be painful. >> michelle caruso-cabrera, thank you very much. sue, down to you. >> ty, goldman sachs, one of the big stocks to watch today. let's look at the stock. it's up about 15% so far this year. the investment...
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Mar 19, 2013
03/13
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i mean, if you look at cyprus' economy, there are two major factors to that economy. tourism and financial services. you could kill the financial services immediately right there. so it's two underpinnings. almost like when greece was doing smo of the same things. >> but you say it matters because it could spread elsewhere? >> just the thought that somebody thought this was a good idea is scary enough to me, i would think. but it's going to be one of those things. we'll have to watch and see how it folds out. but i've got a feeling it will have to turn itself around fairly quickly. >> michael, what do you think? have you changed any of your behavior in terms of allocating capital, as a result of what we've seen in the last 48 hours? >> no, not really, maria. i still think that cyprus is certainly something to watch. but i think it's just part of the negotiation process, exactly what's happening in greece. we have to watch and see if it accelerates and this idea sweeps around europe, but i doubt that's going to happen. i actually think that europe is starting to presen
i mean, if you look at cyprus' economy, there are two major factors to that economy. tourism and financial services. you could kill the financial services immediately right there. so it's two underpinnings. almost like when greece was doing smo of the same things. >> but you say it matters because it could spread elsewhere? >> just the thought that somebody thought this was a good idea is scary enough to me, i would think. but it's going to be one of those things. we'll have to...
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Mar 25, 2013
03/13
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. ♪ [ male announcer ] every car we build must make adrenaline pump and pulses quicken. ♪ to help you not just stay alive... but feel alive. the c-class is no exception. it's a mercedes-benz, through and through. see your authorized mercedes-benz aler for exceptional offers through mercedes-benz financial services. >> blackberry released its next generation smart phone called a z-10, it came out friday and sales on its opening weekend disappointing and goldman sachs cut the stock rating it to neutral and it's down 3%. apple acquired a silicon valley start-up, slam, which makes mapping and tracking devices for smart phones. nicely up. and j.c. penney, the company could be forced into involuntary bankruptcy next year. t
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. ♪ [ male announcer ] every car we build must make adrenaline pump and pulses quicken. ♪ to help you not just stay alive... but feel alive. the c-class is...
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Mar 20, 2013
03/13
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. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, finite possibilities. >>> from our fox business studios in new york, here, again, is gerri willis. gerri: well, another record day for your 401(k). the dow hitting another all time high up 56 points, and the s&p and nasdaq ending the day in green territory. good news, but we have bad news. head's up investors, high frequency trade firms could put you and trades at a big disadvantage. it's a wash trade. when traders acted legally as the buyer and seller for the same transaction driving volumes and distorting prices. the cftc on the case. we have details of the investigation and what it means to you. bart, great to have you on the show. thanks so much for coming on. explain the wash trades. what are they? why are they eel lisle? >> well, you explained it well, gerri. it's actually when you offer to buy and you sell at the same time. you just cancel each other out. you are not taking risks in the markets, and it creates a false volume, and there's all sorts of fancy terms for w
. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, finite possibilities. >>> from our fox business studios in new york, here, again, is gerri willis. gerri: well, another record day for your 401(k). the dow hitting another all time high up 56 points, and the s&p and nasdaq ending the day in green territory. good news, but we have bad news. head's up investors, high frequency trade firms could put you and trades at a big...
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Mar 26, 2013
03/13
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you can't predict the economy's robust. right thou, the transports are continuing to, unfortunately, tell us that it is a slow growth/no growth economy unless you're either fracking, you're intermodal or e-commerce. >> do the transports still move on that? >> they do to a certain degree but, you know, the bottom line is that all transports have gotten much, much better. >> yeah, yeah. >> that takes a lot of it out of it. >> but if we bring up that chart again, is that fedex? when did this happen on the transports? because it did -- >> fedex. >> fedex to a certain degree, but you know, there was another big player that got shot across the bow that day and that was caterpillar the. >> that was who? >> caterpillar. >> that is not a transport, though. >> yeah. but it's a big industrial. it's a global industrial. they said 13% down sales, they said 25% down in the region. >> so, if we're using the transports as a gauge to the economy, is the fed wrong? are we not going to get the kind of growth that people are expecting at this
you can't predict the economy's robust. right thou, the transports are continuing to, unfortunately, tell us that it is a slow growth/no growth economy unless you're either fracking, you're intermodal or e-commerce. >> do the transports still move on that? >> they do to a certain degree but, you know, the bottom line is that all transports have gotten much, much better. >> yeah, yeah. >> that takes a lot of it out of it. >> but if we bring up that chart again, is...
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Mar 21, 2013
03/13
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what's your theme right now for the global economy? >> we still like stocks over bonds, but we're getting nervous. >> because of evaluations? >> we've come so far, so fast. double-digit gains last year. we're almost up 10% this year, even after today. but we think -- so you're kind of set up for a correction. the other thing is how optimistic everybody is. everybody's jumped on the bandwagon, so we felt a lot better in december, when not everybody was with it. but i think if there's any correction, it's not going to be as big as the last few years. the fiscal fights are over in washington. less fear of double dip in the u.s. less worries about europe breaking up, cyprus notwithstanding, or china hardlining. so we would see it as a buying opportunity. >> so what do you want to do, then? should you be taking profits on some of those names you've made money on already? how do you look at a market that you're still bullish on, but are getting a little nervous because of evaluations? >> i can't time this correction. >> right, you don't want
what's your theme right now for the global economy? >> we still like stocks over bonds, but we're getting nervous. >> because of evaluations? >> we've come so far, so fast. double-digit gains last year. we're almost up 10% this year, even after today. but we think -- so you're kind of set up for a correction. the other thing is how optimistic everybody is. everybody's jumped on the bandwagon, so we felt a lot better in december, when not everybody was with it. but i think if...
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Mar 18, 2013
03/13
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economy. and, where hyes, they're in ver shape. they're generally optimistic about their revenue outlook. they tend to have a lot of cash on their balance sheets. they are genuinely concerned about the health care costs, taxes, and regulatory environment. that's the primary reason they don't hire more people. but their businesses are actually doing fine. >> john, i know i asked you this the last time. believe me. it's just that every time you leave then we hear more reports of wells fargo is trying to acquire cit. t.d. bank. has the price not been right? >> well, i really think you need to get wells fargo or t.d. on your show and ask them that question. >> all right. let me ask you about something that i know is near and dear to your heart. the new york stock exchange. what's your take, john, at the deal to acquire n -- he told me last week he's going to spin out some of the european exchanges. as you know he's got five european exchanges that he's going to try to ipo. >> even when i was at the new york stock exchange, the combinat
economy. and, where hyes, they're in ver shape. they're generally optimistic about their revenue outlook. they tend to have a lot of cash on their balance sheets. they are genuinely concerned about the health care costs, taxes, and regulatory environment. that's the primary reason they don't hire more people. but their businesses are actually doing fine. >> john, i know i asked you this the last time. believe me. it's just that every time you leave then we hear more reports of wells fargo...
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Mar 26, 2013
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the economy is on stable ground. we've changed the conversation, as you know, simon from a double dip and a weak economy to one that's gaining momentum here and what we will likely see going forward as we continue to see gains in housing, energy, manufacturing and all positive in this environment catching up. so company, you see some of the dealmakers and m & a activity will be very strong and cash on balance sheets is becoming a liability here and i think companies are looking to see what they can do and return it to shareholders is just one component of that. >> michelle, there's a note out overnight from goldman in which they argue that the unemployment in the company is cyclical. if you can get the economy revving fast enough it is possible to reverse this. would you agree with them? >> i think there are structural elements to it, so i think that nehru or the steady state unemployment rate is higher than it was prior to the crisis, but i would agree that there are cyclical components, and if we stimulate enough c
the economy is on stable ground. we've changed the conversation, as you know, simon from a double dip and a weak economy to one that's gaining momentum here and what we will likely see going forward as we continue to see gains in housing, energy, manufacturing and all positive in this environment catching up. so company, you see some of the dealmakers and m & a activity will be very strong and cash on balance sheets is becoming a liability here and i think companies are looking to see what...
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Mar 19, 2013
03/13
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has had their economy outperform other economies and i think it's a flight to safety relative to the u.s. markets on one hand and it's an unwind from the bond market and risk exposure going forward to rate changes on the other hand. so it's both a flight to safety as well as, you know, what's really going on domestically and people are looking at a twist now with the fed and what their posture will be heading forward. >> i'll be back, adobe earnings at the top of the hour. >> take care, maria. >> what do you think? we're finishing positive here. this market doesn't want to go up? you think some of that's short covering? >> i think that's what we're see right now. finishing up the day. right now people will have to play it cautiously. we haven't seen the end of the cyprus thing. we have some negotiating going on from russia. the impact of that, as you mentioned, is a little minor relative to the size and scope of them, but it's whether or not that moves into italy, spain, as we've all been talking about. >> the contagion. thanks, terry, good to see you. looks like we will finish posit
has had their economy outperform other economies and i think it's a flight to safety relative to the u.s. markets on one hand and it's an unwind from the bond market and risk exposure going forward to rate changes on the other hand. so it's both a flight to safety as well as, you know, what's really going on domestically and people are looking at a twist now with the fed and what their posture will be heading forward. >> i'll be back, adobe earnings at the top of the hour. >> take...
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Mar 19, 2013
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the big policy shift or abe-onomics is giving aus view of the japanese economy. we think that the current stance and the shift at the boj with the new governor taking place later this week is clearly the best opportunity japan has had in the last 15 years to get rid of deflation and i think in that sense we are staying with the market momentum which is very constructive on japan. that is our biggest overweight. >> regional equities. >> we'll leave it there. valentin, appreciate your time today. >> i had mentioned as well the u.s. stocks. here is a look at futures. we saw it in cypriot banks, cypriot stocks reopen not happening. they will be staying closed until at least thursday. largely looking down on the dow by 14 points. the nasdaq and the s&p pointing higher when it did emerge that cypress wouldn't be voting and not approving the terms of the bailout last night. we're still waiting for the final confirmation on the timing of that vote. not so much market nervousness here. the ftse cnbc global 300 is down by 0.1%. as we look at major european markets, the fts
the big policy shift or abe-onomics is giving aus view of the japanese economy. we think that the current stance and the shift at the boj with the new governor taking place later this week is clearly the best opportunity japan has had in the last 15 years to get rid of deflation and i think in that sense we are staying with the market momentum which is very constructive on japan. that is our biggest overweight. >> regional equities. >> we'll leave it there. valentin, appreciate your...
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Mar 25, 2013
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i just had a thought on the economy. if you take a look at unemployment rates, overall, 7.7% is not the worst thing in the world, but four years after the recovery, it should be lower. here's the ones that are killers, and i just want to get your thoughts on how to solve it. teenage employment in the usa, total teenage employment, 25%. overall black employment, 13.8%. and the worst one is teenage black employment, 43%. how in the world can we solve those problems, sir? >> it's going to take a concerted effort. first of all, we as a society need to recognize for every one of those young people we can keep from going on the path of despair, that's one more tax paying productive member of society who may discover a new energy source. so we need to think of ways to invest in them early. that's why we put in reading rooms and all these places to get them interested in reading because we have a 30% high school dropout rate in this country, and this is the information age, the age of technology. there is no way we can afford to
i just had a thought on the economy. if you take a look at unemployment rates, overall, 7.7% is not the worst thing in the world, but four years after the recovery, it should be lower. here's the ones that are killers, and i just want to get your thoughts on how to solve it. teenage employment in the usa, total teenage employment, 25%. overall black employment, 13.8%. and the worst one is teenage black employment, 43%. how in the world can we solve those problems, sir? >> it's going to...
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Mar 18, 2013
03/13
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so our focus right now is to number one, do no harm to the economy. number two, invest in a jobs plan that will help put people back to work. whether building roads or bridges or infrastructure or other things important to our economy. >> why will it take until 2040 to balance the budget under your plan? >> well, if you actually look at the past 40 years, we've only had four balanced budgets. those were during the clinton years and once leaning over to the bush years and then they squandered that balance. so the reason we do that is our focus is on jobs, craig. our focus is on meeting our commitments to seniors. we will not balance the budget on the backs of our kids' education or on the backs of our commitments to seniors. whether it is under medicare or medicaid. what we do is immediately begin to reduce the deficit so they're growing much slower than the economy. which is the important measure. and then we gradually get the balance in the year round 2040. which by the way is the same year that the republican balance last year, the budget last year
so our focus right now is to number one, do no harm to the economy. number two, invest in a jobs plan that will help put people back to work. whether building roads or bridges or infrastructure or other things important to our economy. >> why will it take until 2040 to balance the budget under your plan? >> well, if you actually look at the past 40 years, we've only had four balanced budgets. those were during the clinton years and once leaning over to the bush years and then they...
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Mar 19, 2013
03/13
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emerson. ♪ emerson. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities.
emerson. ♪ emerson. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities.
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Mar 20, 2013
03/13
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we have a moral cause, it's not just about balancing budgets, it's not just about giving the economy, and what we stand for is not taking things away from people. that's the other side. this president and his ally measure success in government by how many people are dependent on the government. we measure success in government by just the opposite, by how many people are no long are dependent on the government, not because we've kicked them out to the streets, not because we've pushed them out to the curb, because we understand in this country that the true way to live the american dream is not to grow up and dream big about being dependent on the government. it's the power of people to control their own destiny through the benefits of a job in the private sector that brings true freedom and prosperity. >> what will we do next? as we go about that, as we talk to one another, listen to what the speakers have to say. let's be clear about one thing. we're not here to rebrand the party, we're here to rebuild a count country. [applaus [applause]. we're not here to dedicate ourselves to new
we have a moral cause, it's not just about balancing budgets, it's not just about giving the economy, and what we stand for is not taking things away from people. that's the other side. this president and his ally measure success in government by how many people are dependent on the government. we measure success in government by just the opposite, by how many people are no long are dependent on the government, not because we've kicked them out to the streets, not because we've pushed them out...
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Mar 25, 2013
03/13
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but 50% of that economy is the banking industry. not only the banking industry but the jobs in the banking industry. i think people are going to be very concerned seeing those pictures. i think that, you know, the contagion is a possibility there. when people think that and they see those things on tv, it just unfortunately gives that feeling of fear and that it could happen anywhere. >> david kelly, we were getting to a point where people like, you know, global strategists were saying that maybe europe was starting to look attractive again. maybe it was time to get in there. is that -- are people going to rethink that with the way things were handled in nicosia? >> i think it does give people cause for pause. european stocks are still cheap. but they're not as cheap, i think, as u.s. stocks given the outlook here. i do think we're going to have some volatility here because of the problems and the bad policy in europe. but i think long term investors should still recognize that the elephant in the room or the rhino as rick would put
but 50% of that economy is the banking industry. not only the banking industry but the jobs in the banking industry. i think people are going to be very concerned seeing those pictures. i think that, you know, the contagion is a possibility there. when people think that and they see those things on tv, it just unfortunately gives that feeling of fear and that it could happen anywhere. >> david kelly, we were getting to a point where people like, you know, global strategists were saying...
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Mar 25, 2013
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economy may be growing at a snail's pace. but our next guest says growth in emerging markets will be strong enough to support the u.s. market for quite a bit longer. >> in fact, he's expecting 5.5% growth in those countries by the end of the year. sam stovall is back with us to make the case. that's quite an impressive growth rate. where's it going to come from, though? >> well, traveling around the west coast last week a lot of clients were asking me, how do we end up with rising earnings here in the u.s.? how do we end up with an expanding pe multiple if we're in a below average economic growth rate here? and i remind them that a lot of the companies, 50% of revenues come from overseas. most of the growth coming from the emerging markets. a lot of that is indigenous growth. a lot of that also is growth that they are -- from an exporting perspective. >> right. >> certainly i'm not saying that there is a trigger that is being unexamined at this point. but indicating to investors that 'en though emerging markets are down about
economy may be growing at a snail's pace. but our next guest says growth in emerging markets will be strong enough to support the u.s. market for quite a bit longer. >> in fact, he's expecting 5.5% growth in those countries by the end of the year. sam stovall is back with us to make the case. that's quite an impressive growth rate. where's it going to come from, though? >> well, traveling around the west coast last week a lot of clients were asking me, how do we end up with rising...
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Mar 19, 2013
03/13
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they need to think about what is good for the economy as a whole. stuart: would you eat a non-union twinkie, phil? >> you ask me a variation of that question every time i am here. stuart: you know the question. would you eat a non-union twinkie? >> first of all, i would not eat a twinkie. what i would do is i would patronize the company. stuart: you got out of that one. all right. thank you very much, phil. it is good to see you and we will bring you back soon. we will offer you a twinkie bought by me when they are back on the shelves. what is going on with chesapeake energy? the stock is moving. nicole: did you actually say you are going to buy something for somebody should mark that should be the headline right there. chesapeake being cut today to an under performer. making available $2.3 billion this move for chesapeake energy under some pressure. stuart: the situation of cyprus. it is scaring people. how confident are you in this country's banks? we have some numbers for you coming up. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles
they need to think about what is good for the economy as a whole. stuart: would you eat a non-union twinkie, phil? >> you ask me a variation of that question every time i am here. stuart: you know the question. would you eat a non-union twinkie? >> first of all, i would not eat a twinkie. what i would do is i would patronize the company. stuart: you got out of that one. all right. thank you very much, phil. it is good to see you and we will bring you back soon. we will offer you a...
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Mar 18, 2013
03/13
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CNNW
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they have bigger economies than cyprus. it has over a million people. gdp of about 24 billion. but this place is in big trouble right now, because of the issue of debt. what they have is a massive debt. they're spending more than they have, so they're getting a bailout from the eu of about $13 billion. we're going to do this all in dollars, not euro, to keep it all clean here. so, of course, with the bailout comes, as we've seen with other nations, you s as you austerit measures. but the savings tax. essentially, a 6.75% tax on $131,000 and below. you get the picture. if you have $131,000 in the bank right now, and this thing gets approved tomorrow, if that happens, they would come in and take about $9,000 out of your account. even more if you have more. now, the plan is if you do this, you get shares of the bank, and then, jake, when everything gets fixed, theoretically, you get your money back and maybe some more. >> tom, you said cypriots. i said cyprus. >> we'll settle that later. >> thank you so much. >>> also leading money news, how bad are things for the ironically named
they have bigger economies than cyprus. it has over a million people. gdp of about 24 billion. but this place is in big trouble right now, because of the issue of debt. what they have is a massive debt. they're spending more than they have, so they're getting a bailout from the eu of about $13 billion. we're going to do this all in dollars, not euro, to keep it all clean here. so, of course, with the bailout comes, as we've seen with other nations, you s as you austerit measures. but the...
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Mar 19, 2013
03/13
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. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. try align. it's the number one ge recommended probiotic c" that helps maintain digestive balance. ♪ stay in the groove with align. ♪ need help keeping your digestive balance in sync? try align. it's a probiotic that fortifies your digestive system with healthy bacteria 24/7. because your insides set the tone. stay in the groove with align. >>> three years ago, the scene after at fukushima nuclear plant in japan. recall the earthquake and tsunami hit the area, waves knocked out cooling systems to reactors leading to meltdowns at three of them. >> that's right, tens of thousands of people evacuated and they still have not been able to return to their homes. last night a power outage hit the same nuclear plant, and now crews are working to restore some of the cooling systems. >> want to bring in chad meyers. help us understand how the cooling systems work and how dangerous this potentially. >> is a closed system, water pumps in and out of a reactor,
. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. try align. it's the number one ge recommended probiotic c" that helps maintain digestive balance. ♪ stay in the groove with align. ♪ need help keeping your digestive balance in sync? try align. it's a probiotic that fortifies your digestive system with healthy bacteria 24/7. because your insides set the tone. stay in the groove with align. >>> three...
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Mar 26, 2013
03/13
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but the second fasters-growing economy, and we're the center, world center of the new economy. we've got companies like sgoog many, twitter, yahoo! apple, so this is a massive growth of people and very little new housing production. so it's so hot that not only prices up dramatically, but the inventory available is down by 40% to 60%, so not never housing for people to really buy, so prices are soaring. we now have something called the flash sale, that a house goes under contract one day after its listed, almost 1,000 of those in the last year. so it's very hot. >> and a fascinating statistic that the average tile a house sits waiting to be sold is over 90 days, but in your market, far less, 14? >> in the east bay it's 13 to 14, in san francisco and silicon valley, 25 to 27. so you've got to move quickly if you want to buy. it's the betts time to be a buyer, we think in a decade because of the low mortgage interest rates that are there today. >> ken, nice to see you. thank you very much. ken rosin with a view from california. you lived in california. do you feel that? >> a bit.
but the second fasters-growing economy, and we're the center, world center of the new economy. we've got companies like sgoog many, twitter, yahoo! apple, so this is a massive growth of people and very little new housing production. so it's so hot that not only prices up dramatically, but the inventory available is down by 40% to 60%, so not never housing for people to really buy, so prices are soaring. we now have something called the flash sale, that a house goes under contract one day after...
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Mar 26, 2013
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because we have no hiring, we aren't getting to get the growth we would normally expect from the economy at this stage in the recovery. and a retrenchment in most spending. that will curtail growth. and we have a serious worry in how much it will cost people to hire with the new employment obamacare laws. we don't have enough small business formation to offset the constant streamlining of every large business i know. ask yourself which companies are hiring aggressively. i can't think of any. so we don't get the bountiful gross domestic product numbers we might expect and we end up simply paying more for companies that can charge higher prices than we thought. at the same time, we pay less for companies to rely on foreign sales unless they're defensives as the drug companies which hit an 11-year -- highs can show you. it seems we will pay anything for the staples like coal gate and bryce total myers because they too build more with less. they build very little and the profits keep coming and coming and coming. and this catch-22 situation benefits so many different equities. as long as we
because we have no hiring, we aren't getting to get the growth we would normally expect from the economy at this stage in the recovery. and a retrenchment in most spending. that will curtail growth. and we have a serious worry in how much it will cost people to hire with the new employment obamacare laws. we don't have enough small business formation to offset the constant streamlining of every large business i know. ask yourself which companies are hiring aggressively. i can't think of any. so...
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Mar 20, 2013
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it is not just getting the economy going. what we stand for is not taking thing away from people. that's the other side. p this president measures success by how many people are dependent on the government. we measure success in government by just the opposite, by how many people are no longer dependent on the government. not because we have kicked them out to the striewks street and out to the curb because we understand that it is not to dream big about being dependent on the government. it is about empowering people to control their own destiny through the benefits of a job in the private sect sector that brings true prosperity. >> what will we do next? as we listen to what the speakers have to say, let's be clear about one thing, we are not here to rebrand the party. we are here to rebuild a country! [cheers and applause] >> we are not here to dedicate ourselves to new talking points coming from d.c. we are not here to put a fresh coat of rhetorical paint on our party. we are not here to abandon our principles in a contest of government giveaways. that's a game we will never, e
it is not just getting the economy going. what we stand for is not taking thing away from people. that's the other side. p this president measures success by how many people are dependent on the government. we measure success in government by just the opposite, by how many people are no longer dependent on the government. not because we have kicked them out to the striewks street and out to the curb because we understand that it is not to dream big about being dependent on the government. it is...
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129
Mar 26, 2013
03/13
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CNBC
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economy is pretty encouraging. and there is now a reasonable chance in the second half of the year that the fed might taper its purchases. which would mean instead of buying at $85 billion a month, maybe they buy at $50 billion a month. and to the extent that the economy is continuing to recover over the next year, i think there's a reasonable chance that during the first half of 2014, the fed might phase out its quantitative easing entirely. >> all right. nathan, stay there. more to come from you. meanwhile, let's bring you up to speed with where we are on global asset prices right now. european equities, pretty mixed at the moment. we were up around, what, 10% and a little bit more around this time yesterday. them we went down at the end of the session which brought toous markets down. losses between 0.4%, 0.3% on the dow. the ftse 100 absolutely flat. kingfisher coming up, they're impacting the numbers across europe. xetra dax up 13 points. we're down 0.3% for the ibex. the ftse mib is fairly flat at the moment.
economy is pretty encouraging. and there is now a reasonable chance in the second half of the year that the fed might taper its purchases. which would mean instead of buying at $85 billion a month, maybe they buy at $50 billion a month. and to the extent that the economy is continuing to recover over the next year, i think there's a reasonable chance that during the first half of 2014, the fed might phase out its quantitative easing entirely. >> all right. nathan, stay there. more to come...
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Mar 20, 2013
03/13
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FBC
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and the market is up and fedex we talk about that being something of a proxy for the economy. and they reported the numbers this morning and the profits were lower, and maybe people are buying or not shipping as much of the certainly we want to find out what's going on. let's go to nicole petallides on the floor the of the new york stock exchange. >> we're seeing fedex to the down side and the transportation index is higher and the dow is up 51 points. fedex comes out here with the numbers and they talk about weakness that hit their profits and they're actually trying to cut costs, but in cutting costs they actually incur cost toss cut costs so they're noting that as well. and year to date, fedex is a winner, up about 16%, you can see today down 4 1/4%. charles: i've got to tell you it's amazing that the fed is print to go this degree and the market is up. and a tech name coming out, oracle, they're after the bell, what are you hearing? >> we're seeing oracle with an up arrow and year to date, it is a winner and obviously they're going to be reporting numbers after the closing
and the market is up and fedex we talk about that being something of a proxy for the economy. and they reported the numbers this morning and the profits were lower, and maybe people are buying or not shipping as much of the certainly we want to find out what's going on. let's go to nicole petallides on the floor the of the new york stock exchange. >> we're seeing fedex to the down side and the transportation index is higher and the dow is up 51 points. fedex comes out here with the...
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Mar 22, 2013
03/13
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CNBC
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the economy will grow 8.5% this year and maybe more on the next. while praising beijing, he also highlighted the financial sector and urbanization as key areas for reform. eunice yoon can all caught up with secretary general angel lahoria. their conversation quickly switched to cyprus. >> what's happening in cyprus is not indicative of what's happening in the world, not indicative of what's happening in the euro area. in cyprus, there was a peculiar situation. the government could not rescue the banking system. there should have been losses accrued to the critters of the banks who took risk webs but there was a formula where they tried to sort of keep everybody more or less unhappy, but they created a very bad package which, obviously, is proving untenable. they're not going to have to fix it. >> but how can they fix it? >> well, the eu has given the cypriots up until next monday to come up with an alternative because apparently this package of 6.5% for those below 100,000 and 9.9% to those above is 00,000 was something that was decided by the cypr
the economy will grow 8.5% this year and maybe more on the next. while praising beijing, he also highlighted the financial sector and urbanization as key areas for reform. eunice yoon can all caught up with secretary general angel lahoria. their conversation quickly switched to cyprus. >> what's happening in cyprus is not indicative of what's happening in the world, not indicative of what's happening in the euro area. in cyprus, there was a peculiar situation. the government could not...
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Mar 25, 2013
03/13
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CNBC
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the economy, even the sequester. the def is icit as well. these are the things that a multi-facetted investor thinks about. >> well, i'm very passionate about this stuff. i believe that our government should intertwine the education and economy in one package nape should almost be places that are merged together in how they respond to things. we no longer have the luxury of having our economy and what we do on that side separate from the educational side. let me be very specific. right now there's probably approximately 20% unemployment rate if you're not a high school graduate in this country. that's approximately 5% if you're a college graduate. one other very telling statistic, 75% of young americans between the ages of 17 and 24 cannot even enlist in the military because there are three requireme requirements, high school graduate, no criminal record and you have to be physically fit. that to me are the problems we need to focus on instead of being so focused on what the employment rate is today but how do we fix it in the long term? >>
the economy, even the sequester. the def is icit as well. these are the things that a multi-facetted investor thinks about. >> well, i'm very passionate about this stuff. i believe that our government should intertwine the education and economy in one package nape should almost be places that are merged together in how they respond to things. we no longer have the luxury of having our economy and what we do on that side separate from the educational side. let me be very specific. right...
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Mar 25, 2013
03/13
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FOXNEWSW
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the press here said from the get-go, when amanda said i just want to be mismy family economy, landed here with the crowds, the press signed a letter saying, we'll leave you alone. never take a picture, so we never hear about her in the press. living a quiet live here at the uw. the same boyfriend before the trial and her initial arrest. he lives in the international district. his family supports her. she has a great extend family in west seattle, and hopefully this will be the period at the end of a very long and unfortunate sentence. >> shepard: is that the thinking? >> i think it is. surprised to hear there was a mixed review in court. the thinking here is, like no way. just no way she's going to have to go back. and in reality she won't be intrado -- extradited. but enough already. this has been -- she has been an innocent abroad, been through four years in prison for something she didn't do, and it's time to just let her have her life-for everyone, including italy to let her have her life. >> shepard: i'm somewhat surprised the italian media have not been tracking her down. >> th
the press here said from the get-go, when amanda said i just want to be mismy family economy, landed here with the crowds, the press signed a letter saying, we'll leave you alone. never take a picture, so we never hear about her in the press. living a quiet live here at the uw. the same boyfriend before the trial and her initial arrest. he lives in the international district. his family supports her. she has a great extend family in west seattle, and hopefully this will be the period at the end...
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90
Mar 25, 2013
03/13
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MSNBCW
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and it will be the biggest boone we could ever imagine to this economy. >> speaking of that, the economy and this economic impact, as you know, it's obviously a huge issue, and according to the center -- a study by the center of american progress, passing comprehensive immigration reform this year would create 200,000 jobs a year for the next ten years. it would add $1.4 trillion to our gdp, and it would add almost $800 billion in personal income. so the american people are going to pay a pretty heavy price if we don't get immigration reform passed this year and there's certainly an economic argument to be made. do you think that your colleagues on capitol hill, particularly those who are still resistant, understand how high the stakes are? >> i'm glad that these studies are being done. i think these studies are actually telling the truth. at the same time, unfortunately, i think the people afraid to vote for comprehensive immigration reform are thinking about one person and one person only. themselves. they're not thinking about the community, the district they represent or the state or
and it will be the biggest boone we could ever imagine to this economy. >> speaking of that, the economy and this economic impact, as you know, it's obviously a huge issue, and according to the center -- a study by the center of american progress, passing comprehensive immigration reform this year would create 200,000 jobs a year for the next ten years. it would add $1.4 trillion to our gdp, and it would add almost $800 billion in personal income. so the american people are going to pay a...
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Mar 21, 2013
03/13
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CNBC
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economy is improving. good news for stock prices. some worry that earnings season may disappoint and trigger a sell-off. but i would expect that to be met with the buy on the dip mentality. we've already seen some earnings cracks. fed skpex oracle each reporting disappointments this week. those stocks took big hits as a result. does that indicate a weakness coming for transport? more will be revealed in the next two weeks with the earnings avalanche soon to kick in. but as investors wait for answers, they're asking the question, where is the growth in the world today? emerging markets fbl under pressure after outperforming for more than a decade. as money comes out of u.s. stocks, it will find a home in places like mexico, where stocks are starting to show real strength as well. many think reforms there will be bullish for investors. and smart money may keep heading south for returns in brazil or colombia. that is not to say the buy in the dip for the u.s. markets won't continue. i believe it will. but with a 10% gain in stocks so fa
economy is improving. good news for stock prices. some worry that earnings season may disappoint and trigger a sell-off. but i would expect that to be met with the buy on the dip mentality. we've already seen some earnings cracks. fed skpex oracle each reporting disappointments this week. those stocks took big hits as a result. does that indicate a weakness coming for transport? more will be revealed in the next two weeks with the earnings avalanche soon to kick in. but as investors wait for...
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Mar 18, 2013
03/13
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FBC
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spread to italy and spain and most global banks have a lot of exposure to those two countries and their economies are much bigger and more important. david: what about hsbc or barclays? both have a lot of branches in cyprus. >> well, barclays has a lot of exposure to spain which is something i would be worried about. david: okay. >> and hsbc has a global bank has exposure to just about everything. only sew societe generale has exposure to cyprus and national bank of greece. it is basically government-owned anyway now. david: what i don't understand, maybe you can explain it to me, erin, why is it, these are international banks. i can understand cypriot banks. that is different situation. some of those might be bought out by the russians anyway. if i have an international bank and an international account in an international bank in cyprus or spain, in international currencies, euros, why can't i move my operation to another country that is not at risk? >> will, i think is exactly what they're worried about. that is why there's a bank holiday cyprus. the banks are expected to reopen on thursday an
spread to italy and spain and most global banks have a lot of exposure to those two countries and their economies are much bigger and more important. david: what about hsbc or barclays? both have a lot of branches in cyprus. >> well, barclays has a lot of exposure to spain which is something i would be worried about. david: okay. >> and hsbc has a global bank has exposure to just about everything. only sew societe generale has exposure to cyprus and national bank of greece. it is...